A decade ago, my buyer’s agent, Meagan Hughes sold a one of a kind home. This home is perched on a hill in Glendale’s Verdugo Woodlands neighborhood,  and offers commanding views from most rooms. The home boasts unparalleled privacy on ½ an acre including guest house, 3 car garage, and mini orchards.  It, is not for sale, the owner loves her home, and will likely never sell. 

She applied for a loan and was having appraisal problems.  Yes, even ten years later this is where your Realtor should help you.  I reviewed her appraisal and was astonished to find that the dimwit appraiser compared her home to one on Verdugo Rd (busy street) and didn’t even make the proper adjustment for that comparable lacking her home’s view and privacy.  This appraiser then made the assumption that her guest house was not permitted (it is) - never asked for copies of permits.  He also used inaccurate square footage on one of the comps.  Although, our client’s home has a beautiful granite kitchen, three updated baths, and new Marvin windows,  the appraiser, made a $60,000 downward adjustment assuming another home offered superior condition.  His errors and inaccurate assumptions went on and on.

I prepared a rebuttal to the appraisal and the homeowner was now asked to supply photos of the comparables we offered.  The irritating aspect is that she paid over $700 for that appraisal. There is just something so wrong with that.